Author: Blank Rome LLP

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Regulatory Compliance

CCC’s Model HCA & Approval Process

Lauren Medeiros Forster —

In May, the Massachusetts Cannabis Control Commission (“CCC” or the “Commission”) released a bulletin (the “Bulletin”) regarding some administrative license extensions in response to the Commission’s new framework and processes governing host community agreements (“HCAs”) in Massachusetts.

Under the CCC’s new regulations governing HCAs, licensees, and their host communities, licensees are required to submit to the CCC a compliant HCA that is approved by the Commission before the licensee can be granted approval for their final license or an annual license renewal.

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Legislation

CCC in Turmoil? Massachusetts Legislature Urged to Place Cannabis Control Commission in Receivership

Gustav Stickley V —

On June 18, 2024, the Massachusetts Office of the Inspector General (“OIG”) addressed a letter to the Massachusetts state legislature (“Legislature”) urging it to take action to correct the poor governance structure of the Cannabis Control Commission (“CCC”) (click here to see the full letter).

The letter states that the CCC’s enabling statute lacks clarity in establishing the leadership hierarchy and defining the duties and responsibilities of its staff and leadership. Despite apparent efforts over the past two years by the CCC, including its commissioners, to establish a clear governing structure, the OIG posits that it is no closer to solving the issue than it was two years ago.

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Controlled Substance Act Employment Issues Legislation Meet Blank Rome Mergers and Acquisitions Regulatory Compliance

Welcome to Cannabis Industry Insights

Frank A. Segall, Scott H. Moskol, and Max M. Borg —

Whether you are a plant-touching operator or an ancillary business, lender, or investor, Blank Rome’s Cannabis Industry Insights blog is your go-to resource for the cannabis industry.

Authored by our trailblazing Cannabis practice attorneys, the Cannabis Industry Insights blog explores the rapidly evolving legal, regulatory, and business landscape, helping those in the sector stay ahead of the curve and seize industry opportunities. Our cannabis team was one of the first in the United States to utilize its extensive corporate and finance experience to support the cannabis industry, and has received numerous accolades, including Law360’s prestigious 2023 Cannabis Practice Group of the Year.

Through our blog, we will continue to explore issues that directly impact the cannabis industry. With the announcement of the rescheduling of cannabis from Schedule 1 to Schedule 3 under the Controlled Substance Act, we are optimistic about new and expanding opportunities for industry players. In addition to interviews with industry leaders, the blog will cover such topics as the impact of rescheduling on 280E taxation; legal and regulatory compliance concerns; the landscape for mergers and acquisitions; legislative efforts; banking, insurance, and other business issues; capital markets; workouts and restructurings impacting the industry; the growing importance of e-commerce, fintech, and regtech; debt and equity financings; labor and employment issues in light of unionization efforts; data privacy and security; and employee stock ownership plans (“ESOPs”); among other areas that are relevant to the underpinnings of the industry.

Our goal is to help cannabis businesses survive and thrive in this highly regulated environment, as well as to assist new participants in entering this exciting industry. Subscribe below to receive our timely content:

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Legislation Regulatory Compliance

The Future of Hemp-Derived THC

Marc A. Polito —

Recent state and federal rumblings lead us to believe we may finally have some resolution to the uncertainty surrounding the legality of hemp-derived synthetic THC products, including without limitation, delta-8 THC, as an amendment to the 2018 Farm Bill has been proposed to clarify the loophole allowing for the sale of such hemp-derived products.

When the 2018 Farm Bill was enacted in 2018, it removed hemp, defined as cannabis (Cannabis sativa L.) and derivatives of cannabis with low concentrations (no more than 0.3 percent tetrahydrocannibinol (“THC”) on a dry weight basis) of the psychoactive compound delta-9-THC, from the definition of marijuana in the Controlled Substances Act (“CSA”). Hemp comes from a cannabis plant, just like the delta-9 THC producing marijuana plant, but a hemp-cannabis plant refers to cannabis plant that contains 0.3 percent or less of delta-9 THC. Delta-9-THC is the compound generally responsible for the psychoactive effects of cannabis that is subject to the CSA. A typical marijuana-cannabis plant on the other hand, can have anywhere from 15 to 30 percent of delta-9 THC.

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Controlled Substance Act Regulatory Compliance

Rescheduling Timeline and Exclusions

Gustav Stickley V —

Advocates of the cannabis industry are understandably excited over the Drug Enforcement Administration’s (“DEA”) recent publication of its proposed rule to reschedule marijuana as a Schedule III controlled substance under the Controlled Substances Act (“CSA”). However, the proposed rule is subject to the due process required by the federal rulemaking regime and will not be officially implemented (if at all) for at least a couple of months, possibly longer. Below we set forth the current timeline of the rulemaking process.

Further, it is helpful to understand what exactly is being rescheduled. We know there are hundreds of cannabinoids, derived from both hemp and from cannabis, and there are manufacturing processes allowing for the creation of synthetic tetrahydrocannabinol (“THC”) and other synthetic cannabinoids. So what’s being rescheduled as Schedule III? We will discuss this below.

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